Bitfrost acquires crypto OTC platform OKONTO
Anton Chaschin, Co-Founder of OKONTO, will lead Bitfrost’s Lending and Prime Services and expand licensing and operations in Switzerland, the European Union, Gibraltar, Singapore, and other Asian markets.
Bitfrost has acquired OKONTO, a leading global institutional crypto OTC and lending provider, to enhance its capabilities as a provider of cryptocurrency services and consulting to its growing list of institutional clients.
Bitfrost is a multichain middleware platform enables developers to create DApps on top of multiple protocols.
Onboarding OKONTO’s top financial experts has also resulted in accumulated knowledge and talent for Bitfrost. Anton Chaschin, Co-Founder of OKONTO joins Bitfrost as Managing Partner.
He will lead Bitfrost’s Lending and Prime Services and expand licensing and operations in Switzerland, the European Union, Gibraltar, Singapore, and other Asian markets.
Anton Chaschin, Managing Partner at Bitfrost, said: “Fintech proves that banking is possible without banks. Today’s banking services lack profitability and flexible scalable solutions, so the industry should recognise that cryptocurrencies can both improve their businesses and have the necessary level of security and stability. It’s time banks and the crypto industry integrate their resources and evolve together. Bitfrost, together with OKONTO are going to realise that.”
The OKONTO team will focus on technical development and support for all Bitfrost’s blockchain and fintech products.
“The acquisition of OKONTO fully aligns with Bitfrost’s main goal of becoming a leading global fintech ecosystem that will provide much-needed consultation for banking and crypto services in order to eliminate trade barriers. OKONTO was chosen as a representative of the crypto world because it met the compliance and security standards of Bifrost. OKONTO already has an impressive client base of European family offices, so we are delighted to be welcomed into the Bitfrost ecosystem”, Anton Chaschin added.
Bitfrost has already started license expansion to have global regulatory coverage. It is in the process of obtaining licenses in Gibraltar, Switzerland, Cyprus, Hong Kong and the United Kingdom.
OKONTO provides new opportunities for capital liquidity and access to new financial markets as the firm believes in the revolutionary potential of blockchain and digital assets.
New technologies eliminate trade barriers, increase the efficiency of financial transactions and radically transform the global financial system.
OKONTO is registered in Estonia since 2011. The company’s activity is regulated by the Estonian Financial Intelligence Unit under the provisions of Money Laundering and Terrorist Financing Prevention Act.
The company is licensed to provide services of exchanging a virtual currency against a fiat currency and carrying out financial operations, licensed to provide a virtual currency wallet service.